Termination of Agreement, Resignation, or Removal of Custodian. Either party may terminate this agreement at any time by giving written notice to the other. We can resign as custodian at any time effective 30 days after we send written notice of our resignation to you. Upon receipt of that notice, you must make arrangements to transfer your IRA to another financial organization. If you do not complete a transfer of your IRA within 30 days from the date we send the notice to you, we have the right to transfer your IRA assets to a successor IRA trustee or custodian that we choose in our sole discretion, or we may pay your IRA to you in a single sum. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If this agreement is terminated, we may charge to your IRA a reasonable amount of money that we believe is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against your IRA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in your IRA If we are a nonbank custodian required to comply with Regulations section 1.408-2(e) and we fail to do so or we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require us to substitute another trustee or custodian. We may establish a policy requiring distribution of the entire balance of your IRA to you in cash or property if the balance of your IRA drops below the minimum balance required under the applicable investment or policy established.
Termination of Agreement, Resignation, or Removal of Custodian. Either party may terminate this Agreement at any time by giving written notice to the other. The Custodian can resign at any time effective 30 days after mailing written notice of its resignation to the IRA Owner. Upon receipt of that notice, the IRA Owner must make arrangements to transfer the IRA to another financial organization. If the IRA Owner does not complete a transfer of the IRA within 30 days from the date the Custodian mails the notice to the IRA Owner, the Custodian has the right to transfer the assets of this IRA to a successor IRA custodian or trustee that the Custodian chooses in its sole discretion, or the Custodian may pay the assets of this IRA to the IRA Owner in a single sum. The Custodian shall not be liable for any actions or failures to act on the part of any successor custodian or trustee, nor for any tax consequences the IRA Owner may incur that result from the transfer or distribution of IRA assets pursuant to this section. If this Agreement is terminated, the Custodian may charge this IRA a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to, one or more of the following:
Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual may terminate this agreement at any time by giving written notice to the other. The custodian can resign as custodian at any time effective 30 days after sending written notice of its resignation to the responsible individual. Upon receipt of that notice, the responsible individual must make arrangements to transfer the Xxxxxxxxx ESA to another financial organization. If the responsible individual does not complete a transfer of the Xxxxxxxxx ESA within 30 days from the date the custodian sends the notice to the responsible individual, the custodian has the right to transfer the Xxxxxxxxx ESA assets to a successor Xxxxxxxxx ESA trustee or custodian that the custodian chooses in its sole discretion, or the custodian may pay the Xxxxxxxxx ESA balance to the designated beneficiary in a single sum. The custodian will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences the designated beneficiary may incur that result from the transfer or distribution of the Xxxxxxxxx ESA assets pursuant to this section. If this agreement is terminated, the custodian may charge the Xxxxxxxxx ESA a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA If the custodian is a nonbank custodian required to comply with Regulations section 1.408-2(e) and fails to do so or the custodian is not keeping the records, making the returns or sending the statements as are required by forms or regulations, the IRS may require the custodian to substitute another trustee or custodian. The custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA to the designated beneficiary in cash or property if the balance of this Xxxxxxxxx ESA drops below the minimum balance required under the applicable investment or policy established.
Termination of Agreement, Resignation, or Removal of Custodian. Either party may terminate this agreement at any time by giving written notice to the other. We can resign as custodian at any time effective 30 days after we send written notice of our resignation to you. Upon receipt of that notice, you must make arrangements to transfer your Xxxx XXX to another financial organization. If you do not complete a transfer of your Xxxx XXX within 30 days from the date we send the notice to you, we have the right to transfer your Xxxx XXX assets to a successor Xxxx XXX trustee or custodian that we choose in our sole discretion, or we may pay your Xxxx XXX to you in a single sum. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If this agreement is terminated, we may charge to your Xxxx XXX a reasonable amount of money that we believe is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against your Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in your Xxxx XXX If we are a nonbank custodian required to comply with Regulations section 1.408‐2(e) and we fail to do so or we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require us to substitute another trustee or custodian. We may establish a policy requiring distribution of the entire balance of your Xxxx XXX to you in cash or property if the balance of your Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.
Termination of Agreement, Resignation, or Removal of Custodian. Either party may terminate this agreement at any time by giving written notice to the other. However, your termination of this agreement will not be effective until such time as all outstanding fees, costs, indemnities, penalties, expenses, or payments due to us are paid. We can resign as custodian at any time effective 30 days after we send written notice of our resignation to you through email (if an email address was provided, otherwise such notice will be sent to you through U.S. mail). Upon receipt of that notice, you must make arrangements to transfer your Xxxx XXX to another financial organization. If you do not complete a transfer of your Xxxx XXX within 30 days from the date we send the notice to you, we have the right to transfer your Xxxx XXX assets to a successor Xxxx XXX trustee or custodian that we choose in our sole discretion, or we may pay or distribute your Xxxx XXX assets to you in a single sum or assignment. If we transfer your Xxxx XXX, the existing Xxxx XXX documents will govern your Xxxx XXX relationship with the new custodian or trustee unless the successor custodian/trustee notifies you in writing of any changes and/or requires new Xxxx XXX documents to be signed by you. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If we terminate this agreement, we reserve the right to distribute your Xxxx XXX assets to you “in kind” instead of in cash. This will generally result in a taxable distribution and will be reported to the IRS and to you. If we distribute your Xxxx XXX assets in kind, we will not withhold federal or state income taxes. Instead, you understand and agree that we may deem you to have waived all federal and state income tax withholding on the distribution. You will still be responsible for all tax implications resulting from the distribution, and you agree not to hold us accountable for any such income tax withholding. If this agreement is terminated, we may charge to your Xxxx XXX a reasonable amount of money that we believe is necessary to cover any associated costs, including but not limited to one or more of the following: • Any fees, expenses, or taxes chargeable against your Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in your Xxxx XXX. After your...
Termination of Agreement, Resignation, or Removal of Custodian. Either party may terminate this agreement at any time by giving written notice to the other. We can resign as custodian at any time effective 30 days after we send written notice of our resignation to you. Upon receipt of that notice, you must make arrangements to transfer your inherited XXX to another financial organization. If you do not complete a transfer of your inherited XXX within 30 days from the date we send the notice to you, we have the right to transfer your inherited XXX assets to a successor inherited XXX trustee or custodian that we choose in our sole discretion, or we may pay your inherited XXX to you in a single sum. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If this agreement is terminated, we may charge to your inherited XXX a reasonable amount of money that we believe is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against your inherited XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in your inherited XXX If we are a nonbank custodian required to comply with Regulations GENERAL INSTRUCTIONS
Termination of Agreement, Resignation, or Removal of Custodian. Either party may terminate this agreement at any time by providing written notice to the other. We can resign as Custodian at any time effective thirty (30) days after we send written notice of our resignation to you. Upon receipt of that notice, you must make arrangements to transfer your Xxxx XXX to another financial institution or complete an account closure request. If you do not complete a transfer or closure of your Xxxx XXX within thirty (30) days from the date we send the notice to you, we have the right to pay or distribute your Xxxx XXX assets to you in a single sum or assignment. We will not be liable for any actions or failures to act on the part of any successor custodian or trustee, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If this agreement is terminated, we may charge to your Xxxx XXX, a reasonable amount of money that we believe is necessary to cover any associated costs, including but not limited to, one or more of the following: Any fees, expenses or taxes chargeable against your Xxxx XXX; Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in your Xxxx XXX after you Xxxx XXX account with us is closed. If there are additional assets remaining in or subsequently credited to your Xxxx XXX account, we will endeavor to distribute or transfer such assets in accordance with your prior direction, but after offsetting any applicable administrative expenses and custodial fees (per our then current fee schedule). If we are required to comply with Regulations section 1.408-2(e), and we fail to do so, or we are not keeping the records, making the returns or sending the statements as are required by forms or Regulations, the IRS may, after notifying you, require you to substitute another custodian or trustee. We may establish a policy requiring distribution of the entire balance of your Xxxx XXX to you in cash or property if the balance of your Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.
Termination of Agreement, Resignation, or Removal of Custodian. 16.1 Either party may terminate this Agreement at any time by giving written notice to the other party. We may resign and appoint a successor custodian to serve under this Agreement or under another governing agreement selected by the successor custodian by giving you written notice at least 30 days prior to the effective date of such resignation and appointment, which notice shall also include or be provided under separate cover a copy of such other governing instrument, if applicable, and the related disclosure statement. You shall then have 30 days from the date of such notice to either request a distribution of the entire account balance or designate a different successor custodian and notify us of such designation. If you do not request distribution of the account balance or notify us of the designation of a different successor custodian within such 30 day period, you shall be deemed to have consented to the appointment of the successor custodian and the terms of any new governing instrument, and neither us nor the successor shall be required to execute any written document to complete the transfer of the account to the successor custodian. The successor custodian may rely on any information, including beneficiary designations, previously provided by you to us. We shall not be liable for any actions or failures to act on the part of any successor custodian or trustee, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section.
Termination of Agreement, Resignation, or Removal of Custodian. Either party may terminate this Agreement at any time by giving written notice to the other. The Custodian can resign at any time effective 30 days after mailing written notice of its resignation to the XXX Owner. Upon receipt of that notice, the XXX Owner must make arrangements to transfer the XXX to another financial organization. If the XXX Owner does not complete a transfer of the XXX within 30 days from the date the Custodian mails the notice to the XXX Owner, the Custodian has the right to transfer the assets of this XXX to a successor XXX custodian or trustee that the Custodian chooses in its sole discretion, or the Custodian may pay the assets of this XXX to the XXX Owner in a single sum. The Custodian shall not be liable for any actions or failures to act on the part of any successor custodian or trustee, nor for any tax consequences the XXX Owner may incur that result from the transfer or distribution of XXX assets pursuant to this section. If this Agreement is terminated, the Custodian may charge this XXX a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to, one or more of the following:
Termination of Agreement, Resignation, or Removal of Custodian. The Account Holder may terminate this Agreement at any time by delivery of written notice requesting such termination to the Custodian. The Custodian shall continue to hold the assets and distribute them in accordance with the Account Holder’s instructions and the provisions of this Agreement, unless it receives alternative instructions from the Account Holder which the Custodian may follow, without liability and without any duty to ascertain whether such distribution or transfer is proper under the provisions of the Code. Upon written request of the Account Holder, the Custodian shall transfer all assets in the Account to the Account Holder, to a qualified retirement plan, or to another individual retirement account established by the Account Holder. The Custodian is authorized to reserve such sum of money or property as it may deem advisable for payment of all its fees, costs and expenses, or for any other liabilities (such as penalties associated with the early withdrawal of any savings instrument) constituting a charge against the assets of the Account or against the Custodian, with any balance of such reserve remaining after the payment of all such items to be paid over to the Account Holder or successor account. The Custodian may resign at any time effective thirty (30) days after it mails written notice of its resignation to the Account Holder. In such case the Account Holder must make arrangements to transfer the Account to another qualified financial institution. If the Account Holder does not complete a transfer of the Account within 30 days from the date Custodian mails the notice to the Account Holder, Custodian has the right to transfer the assets of the Account to a successor IRA Custodian that it chooses, in its sole discretion, or the Custodian may distribute the assets of the Account to the Account Holder. The Custodian shall not be liable for any actions or failures to act by the Account Holder or successor Custodian or for tax consequences the Account Holder may incur resulting from such transfer or distribution of the Account. The Custodian may resign and distribute the entire Account or, as an alternative, specific assets of the Account in the event the Custodian requests and fails to receive updated market valuation information related to any Alternative Investment held within the Account. Such action may be necessary in order to ensure the Custodian remains authorized to act as a qualified IRA provider with the Internal Revenue Servi...
